Virgin Wines: Share price falls and major review announced after Christmas ‘challenges’ drink into profits March 14, 2023 Virgin Wines‘ share price tumbled this morning as the online wine bank reveals it is undertaking a full review after a shift in consumer confidence which knocked profits in the first quarter. Shares in the online wine retailer slumped 1.50 per cent when the market opened this morning as the group revealed its profits before [...]
Not so thirsty Thursday as Nightcap blames ‘targeted’ rail strikes for £1.2m earnings loss March 13, 2023 Cocktail bar operator Nightcap has estimated that 13 days of rail strikes over the last year has cost the company £1.2m. The bar company, which operates a number of venues across Clapham and central London, claimed rail strikers “deliberate targeting” of Thursdays and Saturdays, the most lucrative trading days for the hospitality sector, caused a [...]
Heathrow reports busiest day since Christmas 2019 on half term getaway and lifting of Asia covid restrictions March 13, 2023 Heathrow Airport has exceeded pre-pandemic passenger levels for the first time since coronavirus, thanks to the February half-term rush and lifting of restrictions in east Asia. The good news was fuelled by a late getaway last month as millions of Brits took the chance to escape freezing Britain for some sun. Figures from the airport [...]
UK economy ‘bounces back’ in another signal a recession is off the table but experts warn of stagnation March 10, 2023 The UK economy “bounced back” from a sharp contraction over Christmas and is holding up better than feared in another sign the country could avoid a recession, official figures out today show. Gross domestic product (GDP) jumped 0.3 per cent in January, better than the consensus forecast of 0.1 per cent growth, according to the [...]
DS Smith share price drops as box maker notes ‘market weakness’ March 9, 2023 Box maker DS Smith has said it is continuing to trade in line with profit expectations despite seeing lower corrugated box volumes. The London-based group, which supplies packaging and paper products to the likes of Amazon and Brewdog, said that volume sales were lower in the third quarter due to “market weakness”, with businesses de-stocking [...]
Hotel Chocolat ‘cautious’ as falling revenue and profit dampen outlook for Mother’s Day and Easter sales March 8, 2023 Hotel Chocolat had a bittersweet second half of 2022 with dents in its revenue and profits, owing to “hefty investments”, as it is not so optimistic ahead of Mother’s Day and Easter. The premium chocolate maker reported a fall in its revenue to £129m down from £142m last year, while its gross profit was down [...]
Greggs on a roll: Baker will boost its UK sites to 3,000 as later opening proves a hit with steak bake lovers March 7, 2023 Steak bake favourite Greggs said it expected to become a “significantly larger” business as it announced plans to grow its presence to 3000 sites following stellar sales figures. The budget bakery chain saw total sales up 23 per cent to £1.5bn in 2022, compared to £1.2bn the previous year, as consumers craved the brand’s new [...]
The Notebook: Nick Bowes on devolution, LA’s issues and why Lewisham is now home March 6, 2023 ACCESS to opportunities – well-paid jobs and high-quality study – is a major part of the levelling up agenda.Clearly, some parts of the UK don’t have the same access to jobs and education as others. London scores well, being home to amazing universities and colleges and thousands of high-end jobs. Many Londoners can see the [...]
Selfridges plays down £1.7bn debt concerns saying it is ‘very confident’ about year ahead March 1, 2023 The owners of Selfridges have said they are “very confident” about the outlook for this year as it sought to play down reported concerns that its debt pile, worth over £1.7bn, could cause problems for the luxury department store. The Telegraph reported that the Thai and Austrian owners of Selfridges have laden the firm with [...]
Christmas comes early: PayPoint swoops on savings club Appreciate in £83m ‘earnings enhancing’ deal February 28, 2023 PayPoint has completed its acquisition of Christmas vouchers firm Appreciate Group. The two companies agreed the £83m deal last November and the boards have now finalised the buy-out agreement. The deal with PayPoint, which allows Brits to pay bills at 28,000 convenience stores across the country, involves the incorporation of some of Appreciate Group’s board [...]